Saga Pure: Update on IC Technology AS

23 Dec 2022 14:46 CET

(Oslo, 22 December 2022) The Board of Directors of IC Technology AS (ICT), a
portfolio company of

Saga Pure ASA (Saga Pure, OSE: SAGA), has decided to file for bankruptcy. Saga
Pure will book a loss of NOK 23 million in the fourth quarter 2022 financial
accounts following the process.

"The ICT solution may have significant potential, however a number of milestones
still remain before the solution is ready for the market.," says Bjørn Simonsen,
Chief Executive Officer of Saga Pure.

The Board of Directors of ICT has decided to file for bankruptcy following an
unsuccessful refinancing of the company. ITC was developing a new solution for
efficient storage of liquid hydrogen and other cryogenic fuels, with a main
focus on maritime fuel systems.

Saga Pure holds 32.6% of the shares in the company, and will book a loss of NOK
23 million in the fourth quarter 2022 financial accounts.

ENDS

For additional information, please contact:

Bjørn Simonsen, CEO, +47 97 17 98 21

Espen Lundaas, CFO, +47 92 43 14 17

About Saga Pure | www.sagapure.com

Saga Pure ASA is an investment company with a broad investment mandate.

More information:
Access the news on Oslo Bors NewsWeb site

579161_SAGA_ICT_Update.pdf